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20121230
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have been -- has been to use the middle class tax cuts as leverage to try and extract these super big tax breaks for very wealthy individuals, including now their focus on trying to get 7,200 estates, an average tax break of 1.2 million. this is the top fraction of 1% of the super wealthiest estates, inheritance taxes in the country. they apparently want to put more silver spoons in more people's mouths and provide this big break. again, the sorry part of the story is they're using the middle class to extract these concessions for very wealthy individuals. >> at this late hour, are we going to be dealing with that level of negotiation? is it more the big picture stuff? for example, what would the number be in terms of whose rate would stay the same, whose would go up, $250,000, $400,000, $500,000. are we looking at bigger generalities if we're going to get this done in the next 30 hours? >> that's certainly part of it, where the threshold would be. but this estate tax represents about $140 billion. that's not a trivial amount. republicans proposed increasing the burden on medicare ben
of us who call the gulf home. >>> from nbc >>> from nbc news in washington, the world's longest-running television program, this is "meet the press" with david gregory. >>> good sunday morning. time is nearly up before we go over the so-called fiscal cliff. senate leaders spent the weekend working on a last-ditch deal, and the house comes back for a rare sunday night session. yesterday afternoon in an exclusive interview, president obama sat down with me in the blue room of the white house to discuss the way forward and his priorities for a second term. >>> mr. president, welcome back to "meet the press." >> great to be here. thank you. >> the obvious question, are we going to go over the fiscal cliff? >> we'll find out in the next 48 hours what congress will decide to do. but i think it's important for the american people to understand exactly what this fiscal cliff is. it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended, and they are all about to expire at the end of the year. so on midnight december 31, if congress do
next? with us nbc news capitol hill correspondent mike vic rah and nbc news white house correspondent kristen welker. mike, let's get started with you. what's happening right now in the senate. i understand there's an update on the chained cpi. >> reporter: they say the darkest hour right before the dawn, melissa. everybody ought to hope that's true, at least if you don't want to see your taxes go up on midnight on monday and tuesday night because everything seems to be at a standstill right now. let's review the bidding. here it is from a republican source here on the republican side of capitol hill. all day yesterday they were trading proposals back and forth. by his count two democratic offers came back to republicans and four came back from republicans to democrats. the last one being at 7:00 last night, and, boom, after that, things pretty much came to a standsti standstill. no offers. republicans say they have not heard from democrats since then. mitch mcconnell, of course, the republican leader here in the senate, has said he has reached out to joe biden, the vice president, an
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